Chevy Chase Trust Holdings LLC Sells 4,787 Shares of Deere & Company $DE

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,043 shares of the industrial products company’s stock after selling 4,787 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Deere & Company were worth $59,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Bouchey Financial Group Ltd increased its holdings in shares of Deere & Company by 4.4% in the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock worth $229,000 after buying an additional 21 shares during the period. Silvant Capital Management LLC grew its position in Deere & Company by 0.5% during the 3rd quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock worth $2,034,000 after acquiring an additional 21 shares during the last quarter. Blue Chip Partners LLC grew its position in Deere & Company by 1.4% during the 2nd quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after acquiring an additional 21 shares during the last quarter. TRUE Private Wealth Advisors increased its stake in Deere & Company by 3.0% in the 2nd quarter. TRUE Private Wealth Advisors now owns 744 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 22 shares during the period. Finally, Forefront Wealth Partners LLC increased its stake in Deere & Company by 4.1% in the 3rd quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 22 shares during the period. 68.58% of the stock is owned by institutional investors.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. DA Davidson increased their price objective on Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Wells Fargo & Company upped their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Royal Bank Of Canada increased their price target on shares of Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Daiwa Securities Group cut their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, December 2nd. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $644.70.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $577.42 on Monday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market cap of $155.97 billion, a PE ratio of 32.55, a P/E/G ratio of 2.02 and a beta of 0.96. The business has a 50 day moving average of $564.21 and a 200 day moving average of $503.15. Deere & Company has a 52 week low of $404.42 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.